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APEC Vietnam 2006

US businesses wish for long-term investment and cooperation in Vietnam
16/11/2006 20:25:00

VNGOVNet – In the morning of November 16, Prime Minister Nguyễn Tấn Dũng received Mr. Thomas J. Donohue, President and Chief Executive Officer of the American Chamber of Commerce - the world’s biggest business association representing 3 million companies, societies, local chambers of commerce and 100 American chambers of commerce in 91 countries throughout the world.

Photo VNGOVNet

Having greeted US enterprises' arrival in Hanoi for the 14th APEC Economic Leaders’ Meeting, the PM hailed the active contribution made by them and the American Chamber of Commerce in facilitating the signing and implementation of the Vietnam-US Bilateral Trade Agreement (BTA), as well as their support for Vietnam’s bid to enter the World Trade Organization (WTO). The PM was convinced that the appearance of the top American enterprises on the Vietnamese market will contribute to promoting trade and investment relations between Vietnam and the US in the way of making them stronger and more effective.

The Vietnam-US cooperation has been expanding in various fields, especially economy, trade and investment. Up to now, America has a total registered capital of US$5 billion in Vietnam, ranking sixth among the investors doing business in the country. It has been five years since the signing of the Vietnam-US bilateral trade agreement, and trade between the two countries has increased five times. In 2006, two-way trade is estimated at US$9 billion. The greater potential for bilateral cooperation in investment and trade promotion is yet to be fulfilled to the full.

Talking to his guest, PM Dũng expressed his hope that the US will become the first investor in Vietnam in the coming years. He was convinced of the possibility that US investment in Vietnam will top US$15 billion by 2010. He said: “In the relation with the USA, Vietnam always keeps a consistent policy and wishes to look toward the future. Vietnam has been and will be creating all favorable conditions for American investors to do business in Vietnam, bringing benefits for both sides.”

PM Nguyễn Tấn Dũng felt pity that the US House of Representatives has yet to grant the PNTR status to Vietnam before President G. Bush's trip to the country for an official visit and attendance at the 14th APEC Economic Leaders’ Meeting in Hanoi. The PM firmly believed that the PNTR status will end up seeing its passage as it is most likely to bring profits to both sides, particularly against the backdrop that Vietnam has become a WTO member.

Mr. Thomas J. Donohue said that the US business community also felt regret that the grant of PNTR status to Vietnam was put off and that they were committed to trying their best to put it through the House soon. He said American enterprises have deep impression of and high appreciation for the development of their Vietnamese counterparts, as well as the socio-economic improvements in the country. He said the US business community hoped to establish long-term cooperation and investment in Vietnam.

By Xuân Hồng

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